It is illegal to operate any business, company or NGO unregistered. On registering your business with the approved Government Agency- the Corporate Affairs Commission (CAC) your business becomes a legal entity that can sue and be sued; you are granted the legal authority and legitimacy to operate your business in any location across Nigeria.
🌈Why You Need to Register Your Business
Every registered business feels some sense of responsibility and commitment to their customers and the society in general. Apart from this feeling of commitment It is an offence to carry on business under a name or style which has not been duely registered by the Corporate Affairs Commission (CAC). Section 814(1) of the Companies and Allied Matters Act, 1990 (as amended) provides that: “Every individual, firm or Corporation having a place of business in Nigeria and carrying on business under a business name shall be registered….”
🌈Requirements for Registering an Enterprise or Company
The following are the basic requirements to incorporate a business or a company with the Corporate Affairs Commission
•Approved Name of the Business
•General Nature of the Business
•Contact details, email and phone number of proprietor(s)
•Adress of the Business •Names, Address, occupation of the Proprietor(s) •Amount of Share Capital (for companies only, not for enterprise registeration) •Signature of proprietor(s) or Directors •Passport photographs of proprietors •Registeration Sum
🌈 Duration for Registration
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